Google recently staged a sharp rebound, filling the gap perfectly after a major sell-off driven by tariff-related headlines. While I had personally expected a deeper move into the $137.36–$135.41 range, price found strong buying interest earlier than anticipated.
The area we bounced from is significant—it's essentially the origin of the move that led to Google’s all-time high in 2024. However, despite the bounce, GOOGL has lost support across all timeframes, which shifts my focus toward potential short opportunities.
I’m now watching for a reaction around the support-turned-resistance zone near $164. There’s an untested monthly level at $161.72, which could trigger a reaction, but the area I’m really eyeing is the weekly resistance zone from $164 to $165.87. I believe this range could act as a strong reversal zone and spark a deeper pullback.
If that rejection plays out, here are the levels I’m watching for downside targets:
- Target 1: $157.04 (daily support zone)
- Target 2: $146.75 (leg end and major weekly swing low from September 2024)
- Target 3: $141.55 (previous leg low)
- Final Target: New lows below $140.00
This short setup was far more appealing before the recent bounce off the $140 zone, so I will remain cautious. However, if price starts reacting from this resistance zone and breaks back below the monthly at $161.72—or even more convincingly, the local daily support at $160.67—that would trigger confirmation for continuation to the downside.
Invalidation levels:
- A weekly close above $165.03
- A daily close above $170.60
Either of those would invalidate the short thesis.
The area we bounced from is significant—it's essentially the origin of the move that led to Google’s all-time high in 2024. However, despite the bounce, GOOGL has lost support across all timeframes, which shifts my focus toward potential short opportunities.
I’m now watching for a reaction around the support-turned-resistance zone near $164. There’s an untested monthly level at $161.72, which could trigger a reaction, but the area I’m really eyeing is the weekly resistance zone from $164 to $165.87. I believe this range could act as a strong reversal zone and spark a deeper pullback.
If that rejection plays out, here are the levels I’m watching for downside targets:
- Target 1: $157.04 (daily support zone)
- Target 2: $146.75 (leg end and major weekly swing low from September 2024)
- Target 3: $141.55 (previous leg low)
- Final Target: New lows below $140.00
This short setup was far more appealing before the recent bounce off the $140 zone, so I will remain cautious. However, if price starts reacting from this resistance zone and breaks back below the monthly at $161.72—or even more convincingly, the local daily support at $160.67—that would trigger confirmation for continuation to the downside.
Invalidation levels:
- A weekly close above $165.03
- A daily close above $170.60
Either of those would invalidate the short thesis.
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All content provided by Vici Trading Solutions is for info & educational purposes only. Past performance does not guarantee future results.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Get access to our exclusive tools, & Join our community: bit.ly/m/ViciTradingSolutions
All content provided by Vici Trading Solutions is for info & educational purposes only. Past performance does not guarantee future results.
All content provided by Vici Trading Solutions is for info & educational purposes only. Past performance does not guarantee future results.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.